Asiabizservices Provides Singapore Subsidiary Formation Services
by Oseff Calodeb Tuesday, January 18, 2011
“A subsidiary office adopts the private limited structure. So, legal personality conceals it,” says a female business specialist based in Singapore, Chi Han, “and thereby shields the personal assets of its shareholders from financial accountability.”
A subsidiary branch does not outsource its authority from an offshore company. It has its own resident director who exercises full authority and executive powers, at least one shareholder, and a company secretary.
Chi describes the resident director to be someone of legal age and capacity, must not be an un-discharged bankrupt or guilty of previous malpractices. “It should also be a local or could be a foreigner by holding an Employment pass,” adds Han.
The parent company is not liable for any accountability a subsidiary company may have sustained. Too, the activities of a subsidiary office are not restricted. It chooses its own niche and adopts marketing principles and strategies based on what its officers deem suitable.
“It does not always have to follow what a parent company engages in,” Han continues to elaborate, “It can be a customer service center, an authorized repair service center, manufacturing or processing plant.”
A subsidiary earns its own revenues, and hence, be able to stand on its own. The revenues can be repatriated back into its parent company. And because it has its own legal existence and its authority emanates within Singapore, the authorities recognize a subsidiary office a tax resident. Consequently, it is eligible for tax exemptions, incentives and reliefs.
Foreign companies should enlist the professional services of a firm in handling the establishment of a subsidiary office as they are not yet eligible to engage in any legal transactions with Singapore government.
Company formation, including the subsidiary is among the specializations of Asiabiz. Chi, one of its business consultants continues to elucidate that foreign companies and investors may stay offshore until the subsidiary office is completely registered.
“Investors forward to us the necessary documents for registration with ACRA. At times, in the absence of a resident director, we provide a nominee director to push through with the procedure.”
After completing the registration, Asiabiz shall then take care of the application of the labor passes for the foreign staff including the resident director, which shall assume full responsibility upon acquirement of the Employment pass.
Asiabiz further renders business solutions such as accounting, bookkeeping, and drafting of financial statements and Director’s report, and annual filing of returns.
About the Publisher:
Asiabizservices offers one-stop business solutions to companies, particularly, those that are managed and owned by foreign investors. Since its inception, Asiabizservices has successfully helped foreign entrepreneurs form a Singapore company. Among its specializations are Singapore company setup, corporate services, accounting services, nominee services, company registration, whether as a sole proprietorship, private limited, limited liability partnership; offshore company formation, incorporation of foreign companies either as a branch or subsidiary office, accounting services including payroll preparation and more.
Asiabizservices is the leading provider of Singapore Company Incorporation services and has successfully helped thousands of both local and foreign entrepreneurs Incorporate a Singapore Company. It also provides chartered secretarial services.
For more information visit:
AsiaBizServices PTE LTD
address: 120 Telok Ayer Street Singapore 068589
Singapore Company Formation Service, We provide company registration,incorporation, immigration, accounting and taxation services to entrepreneurs and businesses worldwide.
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